Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Australian Pension Funds Boost Currency Hedging as Aussie Dollar Strengthens 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
General Motors revealed its newest investment plan for its Toledo Propulsion Systems plant in Toledo, Ohio. The automaker is putting in $760 million to upgrade the site to make electric controllers for electric vehicles.
As per CNN Business, General Motors’ Toledo factory is only building transmissions for gas-powered vehicles, and with the investment, it will be able to produce electric drive units for the EVs too. The company said that it would use these drive units for GM electric trucks, including the GMC Hummer EV.
It will also be installed in the upcoming electric vehicle models - Chevrolet Silverado EV and GMC Sierra EV. Once the upgrade is completed, the facility will become General Motors’ first engine transmission factory in the United States that has been converted for the production of electric vehicle-related parts.
It was explained that the electric drive units that will be made in this Toledo factory later include an electric motor, power electronics, and one-speed transmission. EVs do not require transmission with more than one speed, unlike gas-powered vehicles.
Moreover, while the factory is still awaiting the upgrade, GM’s spokesperson, Dan Flores, said the company would continue to make transmissions for front and rear-wheel-drive gas vehicles. The Toledo Propulsion Systems team will keep building high-quality world-class transmission products while also building drive units at the same time during the plant’s transition.
“Our Toledo team has a long, proud history of building great products and they have worked hard to earn this investment,” GM’s executive vice president of global manufacturing and sustainability, Gerald Johnson, said in a press release. “This investment helps build job security for our Toledo team for years to come and is the next step on our journey to an all-electric future.”
He added, “This investment helps build job security for our Toledo team for years to come and is the next step on our journey to an all-electric future and the team will continue to play a key role as we work to strengthen our current truck and SUV dominance, while also playing an important role in our EV growth transition.”
